So these smaller sites that we look for, we look for sites that don’t require substation work, and the reason we look for those is that; A, it dramatically reduces the CapEx; B, it dramatically cuts down the time needed to actually get those facilities online. So for some of the facilities that we are looking at, at the moment, from the time that we actually do the initial walk-through to getting power online is somewhere within 90 days. So that’s how we get to the — what could be perceived as quite eye-opening numbers, but it’s very — it’s actually very easy for Mawson to ramp up there. And so once we get off the mark with our 70-megawatt expansion at Midland, the 12-megawatt expansion in Sharon, I think, you will see Mawson quickly roll numerous other facilities, which do not require; A, a ton of CapEx; and B, a ton of time to get done.
Unidentified Analyst: Perfect. Thanks for that clarification. And I am also assuming that you are between what you ship from Australia and what you have on hand, you are sitting on a fairly sizable amount of exahash that you can immediately or in a very short period of time connect in Pennsylvania here in weeks or months, and obviously, your hosting partner is already ready and able to come up on their end. So you have visibility into how you are growing both sides of that business, at least in the kind of a short order, is that a correct assumption?
Liam Wilson: Yeah. That’s correct. As we have somewhere in the…
James Manning: That’s definitely the case.
Liam Wilson: Yeah. We have somewhere in the vicinity of 1.5 exahash to 1.6 exahash of equipment ready to go, to be turned on, that self-mining gear and then we have the remainder of our hosting partners, the balance of their gear ready to go as well. So, we have got hitting that initial number for Mawson, I think, it was 4.5 exahash. We don’t feel that’s not going to be a struggle at all?
Unidentified Analyst: Okay. And another question here, obviously, last year, you have created a brand new business with 91% margin. I forgot the revenues in the $12 million to $14 million range, which is very substantial that gives you the flexibility. Does the Ohio sites that you are talking about, are they going to — I am familiar with what’s going on in Pennsylvania, but are the Ohio side could be in part of the similar plan as well or not necessarily?
James Manning: I will take that one
Liam Wilson: Yeah. For our
James Manning: So, yeah, that was
Liam Wilson:
James Manning: So you are right, Bert. This — the Energy Markets revenue has been a phenomenal success for us. We saw even $4 million worth of revenue in December. Ohio we will have a similar program and we are really excited about that. So the short answer is, yes. And I think the more important thing is, given that we are going to go from 50 megawatts worth of infrastructure to build up, 120 and 132 — 120 in Midland and 132 in Sharon coming online in the near-term. we will be able to grow that revenue stream as well. So the Energy Markets revenue has the opportunity to grow substantially as well.
Unidentified Analyst: Yeah. I mean that’s exciting. I am just looking at your deck, you guys just put out talking about 400 megawatts. I mean that’s 8 times the size of, if you get there on what you had and you were able to generate $12 million or so of EBITDA. So that’s certainly exciting. My last question is another slide that you put in on your deck that I am just looking at, talking about the discount to your net asset value, and obviously, by selling the sites that you are not using and converting that into your core competency you are navigating that very successfully. But what I didn’t realize is that the stock was $15 equivalent when Bitcoin was basically where it was today and I imagine that was on its — Bitcoin was on its way down from the mid-60%s to 30% when market sentiment was lower versus you have a completed flip of a positive market sentiment right now.
